The Coronavirus has significantly impacted the world, so much so that persons have been laid off from their jobs and sporting events have been cancelled or postponed.
Furthermore, in the U.S., 3.2 million Americans sought unemployment benefits last week.
These new applications brought the total number of jobless claims since mid-March to 33.3 million.
In response to the outbreak, the Federation has created a Relief Fund granting up to $1000.00 for persons whose incomes have been reduced because of the pandemic.
Persons have also been allowed to sign up under the Government’s Poverty Alleviation Program (PAP), which provides a stipend of $500.00.
In light of the economic impact the virus has caused, Governor of the Eastern Caribbean Central Bank (ECCB), Mr. Timothy Antoine, provided some insight as it relates to the payment of loans.
Mr. Antoine said interest will be accumulated.